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The top five currencies to buy on crypto platforms at Coinbase IPO are:

A lot is happening in the world of cryptocurrencies! Bitcoin has surpassed $ 64,000 and Dogecoin is already worth 10 cents. NFT Investments Raises £ 35m Through London Stock ExchangeAnd now, Coinbase was published on NASDAQ yesterday.

actually, Coinbase It is the first dedicated cryptocurrency startup to enter the US Stock Exchange. The San Francisco-based company is one of the most popular cryptocurrency trading apps and is listed with the COIN symbol.

Stock market performance

On Wednesday, the company’s stock opened at $ 381, up 52.4% from the $ 250 reference price set on Tuesday, and was valued at $ 99.6 billion.

Stocks rose to $ 429 and then receded to close at $ 328.28, with a market capitalization of $ 85.7 billion. On the same day, Bitcoin also hit a record high of $ 64,869.

Co-founder and CEO Brian Armstrong said: Coinbase has an ambitious mission: To increase the economic freedom of the world.. Everyone is worth accessing financial services that help build a better life for themselves and their families. We must make a lot of efforts to achieve this. “

What is a direct list?

In particular, Coinbase was listed directly on the US stock market, which is considered an alternative to traditional IPOs. According to Investopedia, a direct listing does not create new shares, only existing issued shares are sold without the involvement of an underwriter.

“Direct listings are more democratic,” said Professor Jay Ritter of the University of Florida, who is an expert in the process of listing companies. “Individuals are not locked out of the opportunity to buy at lower offer prices.”

Revenue model and profit

Coinbase is a digital currency wallet and platform founded by Brian Armstrong and Fred Ehrsam in 2012 that allows merchants and consumers to trade with new digital currencies such as Bitcoin, Ethereum and Litecoin.

In terms of revenue, the company has made a small reduction from the cryptocurrencies traded on its platform. Prices usually vary by region and currency.

As a result of the Bitcoin procurement, the company’s revenue in the first quarter increased about 10 times to $ 1.8 billion, and its net profit increased from $ 730 million to $ 8. That’s $ 100 million. ..

However, the company also warned of a prospectus on performance that is closely related to the price of volatile cryptocurrencies.

According to Forbes, the company’s revenue exceeded $ 1.28 billion last year, 86% of which came from these transaction fees.

Last year, the company announced the Coinbase Card. This is a Visa debit card that allows you to use crypto for online and in-store payments and purchases, and withdrawals at ATMs.

56 million users

Today, the company has approximately 56 million validated users, 7,000 institutions and 115,000 ecosystem partners in more than 100 countries. The company employs more than 1,700 people worldwide.

Raise £ 408M

The company has raised £ 408m from various venture capital investors so far.by New York Times, Its largest shareholders include Andreessen Horowitz, Tiger Global, and Paradigm, a crypto-focused investment firm.

In addition, Brian Armstrong owns nearly 40 million shares of the company, which is worth about $ 13 billion (about £ 9.4 billion).

Since the price of Bitcoin soared, some altcoins have also experienced a sudden surge. Don’t worry if you are late for the Bitcoin race! There are thousands of alternative coins you can get.

Many people are thinking or may have already made money in Coinbase, but UKTN also takes this opportunity to take advantage of Bitcoin as well as the top 5 available to buy now in Coinbase. Listed two cryptocurrencies.

Ethereum

Founder: Vitalik Buterin

Launched in 2015, Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin. However, unlike Bitcoin, it was not created as digital money.

It is also a decentralized computing platform that can run a variety of applications. According to the Ethereum Foundation, “Ethereum can be used to systematize, decentralize, protect and trade almost anything.”

Litecoin

Founder: Charlie Lee

Litecoin (LTC) is a peer-to-peer cryptocurrency established by Charlie Lee (former Google employee) in 2011. It is used for cheaper transactions and is designed to be more efficient for everyday use.

Utilizing blockchain technology, Litecoin can be used to transfer funds directly between individuals or businesses.

Cardano

Founder: Charles Hoskinson

Cardano is a proof of stake blockchain platform, first founded on the basis of peer-reviewed research. Cardano’s internal cryptocurrency is called ADA and can be used for direct value transfer. Charles Hoskinson is also one of the co-founders of the popular altcoin Ethereum.

Uniswap

Founder: Hayden Adams

Uniswap is a decentralized finance protocol used to exchange tokens for cryptocurrencies. This protocol uses smart contracts to facilitate automated transactions between cryptocurrency tokens on the Ethereum blockchain.

Chain link

Founders: Sergei Nazarov and Steve Ellis

Chainlink is an Ethereum token that enhances the Chainlink decentralized Oracle network. This network allows Ethereum smart contracts to securely connect to external data sources, APIs, and payment systems.



The top five currencies to buy on crypto platforms at Coinbase IPO are:

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